Companies / Polisan Yapı
POLİSAN YAPI İNŞAAT TAAHHÜT TURİZM SANAYİ ve TİCARET A.Ş.
Polisan Yapı İnşaat Taahhüt Turizm San. ve Tic. A.Ş. (“Polisan Yapı”) was established in 2006 in order to utilize the assets owned by Polisan Holding and its subsidiaries on a project basis.
- Is neither a Real Estate Investment Trust, nor a contractor company.
- Does not incur any capital expenditure for the projects.
- Provides the land and obtains residences and/or offices in units upon completion of the projects.
- Records the proceeds from the sale of the projects as net profit.
Polisan Yapı Signed an Agreement for a Project to be Built on Its Land in Pendik, Kurtköy.
Polisan Yapı signed an agreement for a project to be built on land in Pendik, Kurtköy. The land is spread on an area of approximately 180,000 square meters, and is very close to the TEM Motorway, E-5 Highway, Sabiha Gökçen Airport, and Ankara-İstanbul high-speed railway. On March 5, 2015, Polisan Yapı signed an agreement for the project to be built on this land with the Dap Yapı İnşaat Sanayi ve Ticaret A.Ş. (“DAP Yapı”) and DOP Yapı Mimarlık İnşaat Gıda Turizm Hizmetleri Sanayi ve Ticaret Ltd. Şti. (“DOP Yapı”) Joint Venture (“JV”). Based on the agreement, the DAP Yapı – DOP Yapı JV will own 66% of the land but will not pay any cash. Instead, it will build on a turnkey basis and deliver 34% of the independent units to Polisan Yapı. DAP Yapı continues to work on the details of the project. Growth resulting from the increase in Sabiha Gökçen Airport’s traffic and easy access to be provided by the planned Kartal–Pendik–Kurtköy metro route is expected to increase the demand for the houses and commercial estates in the region. Besides, other business and tourism focused projects are expected to reach the agenda, such as a fair, congress center and techno-park.
Sales and Rental Process of Kağıthane “Z Office” Business Center Project Continues.
Polisan Yapı had an agreement with DAP Yapı for a Joint commercial real estate project to be built on a 9,773 square-meter (net) land in Kağıthane, which is İstanbul’s 6th most densely populated district, undergoing rapid urbanization. In June 2014, Polisan Yapı received the deeds with construction servitudes for 126 offices and 28 shops that it owns for the Z Office Project, which is 42% owned by Polisan Yapı and 58% by DAP Yapı. Kentsel Hizmetler Yapı ve İşletme Sanayi Ticaret A.Ş. continue activities to sell and lease these offices and shops. As of December 2018, 53 offices and shops were sold, and 10 shops leased within the Z Office Project.